Continuing the discussion from What Does the Renters' Rights Bill Mean for Landlords?:
I don’t see how any of the proposed new legislation “balances the playing field”, it simply means it is going to be harder to remove problem tenants at the same time as allowing them to quit at 2 months notice, i.e. minimum 3 months into a new tenancy.
With no term restrictions the landlord will be left with the agents tenant finders / set up fees, council tax, utility bills standing charges, marketing and clean up costs with little in the way of earnings from rent receipts of only 3 months to cover said costs.
Besides being taken to task over prospective tenants with children, pets and / or HB with no income.
Pray tell me how that balances up the playing field…?
IMHO it is entirely one sided, as per usual…! There will not be any improvement in the court eviction process, with the exception of a landlord funded Ombudsman that will err on the side of the tenant in every case as do the TD schemes.
As a landlord I feel oh so much more secure - NOT!
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two less places to rent from me. Sold to Mum and daughter who at present live in same house. Couple of landlords wanted to buy them, but I wanted to do my bit to reduce the rental market Commercial now better for me
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or, to look at it another way, it allows a problem tenant to walk away after only 3 months rather than 6 thus halving the time you have to deal with them
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If your risk goes up, your return needs to go up, so the rent needs to go up.
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Truth be known tenants walk away when it pleases them anyway and stick 2 fingers up at the landlords contract terms and conditions, leaving the only options to suck it up or MCOL with little hope of recovering the debt and costs.
I just had one walk out of a 12 month contract after 6 months not paying his last months rent to cancel out his bond. Tenants are so honourable and deserving of these RRB protections - NOT.
With the new RRB proposals we won’t even have that option to screw up their credit rating, or any possibility of recovery. Perhaps that is the motivation for the government to reduce cases in court as it’s certainly got nothing to do with security of tenure, which is what they were bleating about over abolishing S21’s. Two faced politicians playing with peoples livelihoods and investments, despicable…!
Congratulations.
It’s crossed my mind to buy a load of beds and chairs and hand my properties over to Serco for 5 years.